``According to the SEC's complaint, filed in the U.S. District Court for the Western District of North Carolina, Femenia is still employed in the Wells Fargo New York office with the Industrials Investment Banking Group. Previously, he worked in the North Carolina office.

A spokeswoman for Wells Fargo said the bank had just learned about the allegations against Femenia on Tuesday and immediately placed him on leave, adding that the bank was "assisting and fully cooperating with the SEC and other agencies.''